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PwC to rein in UK pay rises amid ‘challenging’ market

Performance improvement plans and static pay for some junior auditors spell leaner times in the sector

Pay increases are unlikely to keep pace with record uplifts last year, firm warns
Pay increases are unlikely to keep pace with record uplifts last year, firm warns Photo: Mike Kemp/Getty Images

PwC is set to limit pay and bonus hikes for staff in the UK, as a period of bumper raises comes to an end thanks to a "challenging market".

A recent webcast and memo have cast a gloomier outlook for remuneration at the Big Four professional services firm, the Financial Times reports, which has just come off a year where partners were paid a record £1m each.

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